Olympia Network Upgrade Announced

The Ethereum Classic community has announced Olympia, the next major network upgrade. Olympia will adopt EIP-1559 fee markets with a unique modification: instead of burning the basefee, it will be directed to a community treasury for ecosystem funding.

## Key Changes

### EIP-1559 Fee Market with Treasury Redirect
Olympia implements EIP-1559's dynamic basefee mechanism, which replaces the first-price auction fee model with predictable, algorithmically-adjusted gas prices. On Ethereum, the basefee is burned (permanently destroyed). On ETC, the basefee will be redirected to a community treasury contract (ECIP-1112), preserving the fixed monetary policy established by ECIP-1017 while funding ecosystem development.

### EVM Equivalence
Olympia brings Cancun execution-layer EIPs to ETC, maintaining the network's track record of selective EVM alignment. PoS-specific changes are omitted as usual.

### Multi-Client Activation
Three independent client implementations are preparing for Olympia:
- **Core-Geth** (Go) — primary reference client
- **Hyperledger Besu** (Java) — enterprise-grade alternative
- **Fukuii** (Scala) — new client in development

## Treasury Funding Mechanism

The treasury is funded exclusively by the EIP-1559 basefee — not by block rewards. This preserves the ECIP-1017 emission schedule. The basefee amount varies with network demand, providing sustainable funding that scales with actual network usage.

## Activation

Olympia will activate on the Mordor testnet first, followed by ETC mainnet. Activation block numbers will be announced after multi-client testing is complete.

## Governance

Treasury fund allocation will be governed by the Olympia decentralized governance framework, ensuring that spending decisions are made by ETC stakeholders rather than any single organization.